Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Sees Significant Increase in Short Interest

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 36,000 shares, a growth of 275.0% from the November 15th total of 9,600 shares. Based on an average daily trading volume, of 63,000 shares, the days-to-cover ratio is presently 0.6 days.

Wahed FTSE USA Shariah ETF Stock Performance

Shares of HLAL traded up $0.59 during midday trading on Wednesday, hitting $54.91. 43,544 shares of the company traded hands, compared to its average volume of 62,731. The stock has a market cap of $582.05 million, a price-to-earnings ratio of 24.44 and a beta of 1.05. The firm has a 50 day moving average of $52.41 and a 200-day moving average of $51.20. Wahed FTSE USA Shariah ETF has a 52 week low of $44.12 and a 52 week high of $54.99.

Wahed FTSE USA Shariah ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 26th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Wahed FTSE USA Shariah ETF’s previous quarterly dividend of $0.02. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%.

Hedge Funds Weigh In On Wahed FTSE USA Shariah ETF

A hedge fund recently raised its stake in Wahed FTSE USA Shariah ETF stock. Valeo Financial Advisors LLC lifted its holdings in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) by 25.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,351 shares of the company’s stock after buying an additional 2,106 shares during the period. Valeo Financial Advisors LLC owned about 0.10% of Wahed FTSE USA Shariah ETF worth $542,000 at the end of the most recent reporting period.

Wahed FTSE USA Shariah ETF Company Profile

The Wahed FTSE USA Shariah ETF (HLAL) is an exchange-traded fund that is based on the FTSE USA Shariah index, a principles-selected, market-cap-weighted index of US equities. HLAL was launched on Jul 16, 2019 and is managed by Wahed.